Cred Secures RBI Approval to Operate as Payment Aggregator
Indian fintech company Cred, backed by global investors Tiger Global and Peak XV, has received approval from the Reserve Bank of India (RBI) to operate as a payment aggregator, the company announced on Wednesday. The licence allows the platform to expand its role in India’s rapidly growing digital payments ecosystem by facilitating transactions between customers and merchants.
With the new approval, Cred will be able to onboard merchants, collect payments on their behalf through multiple payment instruments, and manage settlements and refunds. The development positions the fintech firm to strengthen its presence in the payments infrastructure space while offering broader services to businesses using its platform.
Cred said it processed payments worth about 8.5 trillion rupees (approximately $92.40 billion) for its 15 million users during the fiscal year ending March 2025. The company’s latest regulatory clearance is expected to support its continued growth in India’s booming digital finance sector.
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